Loan Comparison: 2.9% vs 6.5%
16353 Blue Yonder, Monument, CO 80132 · 3bd/3ba · $408,000
List Price
$408,000
Assumable Rate
2.9%
Remaining Balance
$288,850
Equity Gap
$118,507
Loan Type
VAAdjust Your Scenario
$20,400
$20,400$118,507
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.9% (VA)
Blended Rate: 4.32%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,450/moAssumable @ 2.9% + gap loan
$1,957/moAssumed loan: $1,202/mo
Gap financing: $754/mo
$493less per month with the assumable
Your Savings on This Property
16353 Blue Yonder, Monument · 2.9% VA vs 6.5% conventional
$493
per month
$5,919
per year
$177,573
over 30 years
$176,930
interest saved
How gap financing works: The equity gap ($118,507) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,400, 5% of purchase price) and a second mortgage for the rest ($98,107 at 8.5%). Even with two payments, the blended cost is typically much lower than a new conventional loan. We work with lenders who specialize in assumption gap financing.
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